[OFFICIAL] - China

Discussion in 'Politics' started by blackbull1970, Nov 21, 2011.

  1. blackbull1970

    blackbull1970 Well-Known Member

    PRESIDENT TRUMP TELLS REPUBLICAN DONORS CHINA'S 'PRESIDENT FOR LIFE' PLAN IS A GREAT IDEA THAT COULD HAPPEN IN U.S. SOME DAY

    BY TOM PORTER AND REUTERS ON 3/4/18 AT 6:00 AM

    http://www.newsweek.com/critics-blas...e-power-829723

    President Donald Trump has made no secret of his admiration for strongmen leaders such as Russian President Vladimir Putin and the Philippines’ Rodrigo Duterte.

    And, according to a tape of closed door remarks Trump made at his Mar-a-Lago estate obtained by CNN, he supports President Xi Xinping of China's move to extend his power indefinitely.

    “He’s now president for life,” Trump told Republican donors, after the Chinese Communist party last week moved to alter the constitution to allow Xi to remain in power beyond the two-term limit.

    “President for life. And he’s great. And look, he was able to do that. I think it’s great. Maybe we’ll give that a shot some day.”

    It is not clear if Trump, 71, was making the comment about extending presidential service in jest. The White House did not respond to a request for comment late Saturday.

    In the speech Trump delivered during a lunchtime fundraiser at his Palm Springs estate, he went on to denounce the U.S. political system as “rigged.”

    “I’m telling you, it’s a rigged system folks. I’ve been saying that for a long time. It’s a rigged system. And we don’t have the right people in there yet. We have a lot of great people, but certain things, we don’t have the right people.“

    U.S. Representative Ro Khanna, a Democrat, said on Twitter of Trump's remarks on China's president that “whether this was a joke or not, talking about being President for life like Xi Jinping is the most un-American sentiment expressed by an American President. George Washington would roll over in his grave.”

    Former White House Ethics chief Richard D. Painter also criticized the president’s remarks.

    “Either he’s losing it, or we’re losing it if we let him stay on after this. How many hints do we need that he wants to be a dictator?”

    Norman Eisen, ethics chief under the Obama administration, tweeted: "Trump’s secret reaction to the Chinese communist dictator changing the rules to serve for life:“Maybe we’ll try that here someday.“ You mean, suspend the constitution and make you a permanent tyrant? I don’t think so."

    U.S. presidents by tradition served a maximum of two four-year terms until President Franklin Roosevelt was elected a record four times starting in 1932. An amendment to the U.S. Constitution approved in 1951 limits presidents to two terms in office.

    In order to change the current prohibition, it would require initial support of two-thirds of both houses of Congress or support of two-thirds of state legislatures - and then would need to be ratified by three-quarters of the states.

    China’s annual parliament gathering kicks off on Monday as Xi presses ahead with efforts to ward off financial risks without undermining the economy. The Communist party announced Feb. 25 the end of the two-term limit for the president—and parliament is expected to ratify the move.

    The two-term limit was introduced by former Chinese leader Deng Xiaoping in 1982, and was designed a repeat of dictatorships such as that of Mao Zedong, who ruled China for decades.

    During the remarks, Trump praised Xi as“a great gentleman” and added:“He’s the most powerful (Chinese) president in a hundred years.” Trump said Xi had treated him“tremendously well” during his visit in November.

    Trump has often praised Xi, but in January Trump told Reuters the United States was considering a big“fine” as part of a probe into China’s alleged theft of intellectual property. He has been critical of China’s trade policies.

    Trump told The New York Times in December that following the growing threat from North Korea, he had“been soft on China because the only thing more important to me than trade is war.”

     
  2. DudeNY12

    DudeNY12 Well-Known Member

    Of course during the next WH press briefing the pitbull will spin it as the clueless old fossil was only joking.
     
  3. blackbull1970

    blackbull1970 Well-Known Member

    Death of US dollar? China launches petro-yuan to challenge greenback’s dominance

    Published time: 26 Mar, 2018 09:32
    Edited time: 27 Mar, 2018 09:02


    https://www.rt.com/business/422314-p...-dollar-death/

    The highly anticipated yuan-backed crude oil futures have been launched in Shanghai. China is the world’s biggest oil consumer, with eyes on rival benchmarks Brent and WTI as well as the US currency.

    Trading of the new oil futures contracts for September settlement started on the Shanghai International Energy Exchange at 440.20 yuan ($69.70) per barrel, reports Chinese daily the South China Morning Post. Some 18,540 lots have reportedly been sold and purchased so far.

    The long-awaited step evoked a surge in global prices for oil with Brent Crude soaring to $71 a barrel for the first time since 2015. US crude benchmark West Texas Intermediate (WTI) reached the highest level in three years at $66.55 per barrel, before retreating to $65.53.

    Experts see China’s yuan-dominated contracts as historic as the new futures symbolize the first time that foreign investors can access a Chinese commodity market. The launch ends years of setbacks and delays since the country’s first attempt at listing the securities in 1993.

    At the same time, the petro-yuan launch is seen as a blow to the US dollar that has been weakening in recent months. The US dollar is the predominant settlement currency for oil futures contracts. On Monday, the greenback slipped to a 16-month low against the Japanese yen, but remained steady against a basket of six major currencies.

    Chinese authorities have reportedly accelerated the launch amid growing crude imports. Last year, the country outpaced the US as the world’s number one importer of oil. Thus, the contracts may not only help to win some control over pricing from the major international benchmarks, but also promote the use of Chinese currency in global trade.

    The greenback will get weaker, as soon as other nations have a real credible alternative to it, Ann Lee, Adjunct Professor of Economics and Finance at New York University and author of the book ‘What the US Can Learn From China’, told RT.

    “It is more of a game changer for the US. As soon as other nations have a real credible alternative to the US dollar, they can dump dollars and switch to the yuan which can spark a dollar crisis. If that happens, not only will there be inflation from the tariffs, but also from the flood of dollars,” said Lee.

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